ISLAMABAD: Gold prices in Pakistan soared to an all-time high on Monday following a sharp rise in international bullion rates. The surge marks the highest level ever recorded in the country’s history.
Gold Prices Reach Historic Levels
According to the All Pakistan Gems and Jewellers Sarafa Association, the price of gold rose by Rs5,500 per tola, reaching Rs428,200. This increase represents the highest per tola rate ever recorded in Pakistan. Similarly, the rate for 10 grams of gold jumped by Rs4,715, bringing the new price to Rs367,112.
On Saturday, gold had already gained Rs2,100 per tola, closing at Rs422,700 before climbing to the new record. In global markets, gold prices also surged to historic highs, reflecting the same bullish momentum.
Global Gold Prices Surge to Unprecedented Highs
The association reported that international gold prices rose by $55, pushing the global rate to $4,071 per ounce, including a $20 premium. Reports showed that spot gold was trading 0.7% higher at $4,044.29 per ounce after hitting an intraday high of $4,059.30 earlier in the day. Meanwhile, US gold futures for December delivery climbed 1.6% to $4,062.50 per ounce.
Silver Follows the Same Upward Trend
Silver prices also witnessed a strong rally in Pakistan. The precious metal gained Rs147 per tola to reach Rs5,247, setting another all-time record in the domestic market. Analysts noted that silver’s rise mirrored gold’s surge as investors moved towards safe-haven assets amid global uncertainty.
Experts Cite Interest Rate Expectations and Trade Tensions
Market analysts attributed the spike in bullion prices to growing expectations of an interest rate cut by the US Federal Reserve and escalating US–China trade tensions. These factors have fueled demand for safe-haven assets like gold and silver.
Experts said investors’ renewed preference for precious metals has pushed both gold and silver to unprecedented highs worldwide. As uncertainty persists in global markets, bullion prices may continue to strengthen in the coming weeks.
